USA: Alabama; Alaska; Arizona; Arkansas; California; Colorado; Connecticut; Delaware; Florida; Georgia; Hawaii; Idaho; Illinois; Indiana; Iowa; Kansas; Kentucky; Louisiana; Maine; Maryland; Massachusetts; Michigan; Minnesota; Mississippi; Missouri; Montana; Nebraska; Nevada; New Hampshire; New Jersey; New Mexico; New York City; New York; North Carolina; North Dakota; Ohio; Oklahoma; Oregon; Pennsylvania; Rhode Island; South Carolina; South Dakota; Tennessee; Texas; Utah; Vermont; Virginia; Washington, DC; Washington; West Virginia; Wisconsin; Wyoming
USA Territories: American Samoa (USA); Guam (USA); Puerto Rico (USA); Virgin Islands (USA); Northern Mariana Islands (USA)
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Capital assistance program to USA and territories financial institutions in low- and moderate-income communities to address community and economic development needs. Funding is intended to offset the economic effects of the Coronavirus (COVID-19) health crisis and respond to the needs of small businesses, consumers, nonprofit organizations, community development, and other projects providing direct benefits to LMI communities, Low-Income individuals, and Minorities within the Minority, Rural, and Urban Low-Income and Underserved Areas served by the applicant.
The Department of the Treasury (Treasury) is providing these Application Instructions for Low- and Moderate-Income Community Financial Institutions that are considering applying for a capital investment under the Emergency Capital Investment Program (ECIP or Program).
The Consolidated Appropriations Act, 2021 added Section 104A of the Community Development Banking and Financial Institutions Act of 1994 (the “Act”). Section 104A authorizes the Secretary of the Treasury to establish the Program to support the efforts of Low- and Moderate-Income Community Financial Institutions to, among other things, provide loans, grants, and forbearance for small businesses, Minority-owned businesses, and consumers, especially in Low-iIncome and Underserved Communities, including Persistent Poverty Counties, that may be disproportionately impacted by the economic effects of the COVID-19 pandemic by providing direct and indirect capital investments in Low-and Moderate-Income Community Financial Institutions.
Estimated Size of Grant:
The authority to make new capital investments in Low- and Moderate-Income Community Financial Institutions, including commitments to purchase preferred stock or other instruments, provided under the Program will terminate six months after the termination of the national emergency concerning the COVID-19 outbreak declared by the President under the National Emergencies Act (50 U.S.C. 1601 et seq.).
To apply, click 'ECIP Application Portal' on the URL for Full Text (RFP), below.
For questions and concerns regarding legal documents, send an email to firstname.lastname@example.org. Legal documents posted here are for information purposes only.